Agenda item

Report of the Chief Strategy Officer.

Members received a report of the Chief Strategy Officer concerning risk management.

Members discussed the status of the Strategy within the City Corporation’s governance framework, including at officer and Member levels. It was noted that the outcomes of the risk appetite review would be presented at a future Committee meeting.

It was noted that the Strategy was a living document, and Members asked for the following changes to be included:

• Strengthen the quantitative measures used in reporting progress.
• Greater information on benchmarking against comparable organisations, including both local authorities and complicated corporate entities.
• Updated wording to state that risk appetite should be ‘increased and maintained.’

RESOLVED, that – Members:

a)     Endorse the draft Risk Management Strategy 2024-2029.

b)     Authorise the Chief Strategy Officer to agree and finalise any minor changes to the content of the draft Risk Management Strategy 2024-2029, in consultation with the Chair of the Audit and Risk Management Committee.